12 Most Oversold Healthcare Stocks to Buy Now

1. CG Oncology, Inc. (NASDAQ:CGON)

Year Perf: -35.32%

Analyst Upside: 158.01%

Number of Hedge Fund Holders: 26

CG Oncology, Inc. (NASDAQ:CGON) is a clinical biopharmaceutical company that develops and commercializes bladder-sparing therapeutics for bladder cancer. Its product cretostimogene is initially in clinical development for the treatment of Non-Muscle Invasive Bladder Cancer (NMIBC). The company is making significant advancements across its pipeline to develop a potential backbone bladder-sparing therapy for NMIBC. With a strong tolerability profile and safety, cretostimogene has the potential to induce a durable, complete response in bladder cancer patients. Investors are bullish on the stock as cretostimogene’s unique product profile distinguishes it from the investigational and current NMIBC treatments.

CG Oncology, Inc. (NASDAQ:CGON) has $540.7 million in cash and cash equivalents and marketable securities as of September 30, 2024. Based on its current operating plans, management expects its existing cash, cash equivalents, and marketable securities to be sufficient to fund operations through 2027. 26 hedge funds hold stakes in CG Oncology, Inc. (NASDAQ:CGON) as of fiscal Q3 2024. Its median price target of $27.32 implies an upside of 158.01% from current levels. On February 13, Charlie CY Yang from Bank of America Securities maintained a Buy rating on the company with a price target of $65.00.

Overall, CGON ranks first among the 12 most oversold healthcare stocks to buy now. While we acknowledge the potential of healthcare stocks, our conviction lies in the belief that AI stocks hold greater promise for delivering higher returns and doing so within a shorter time frame. If you are looking for an AI stock that is more promising than CGON but that trades at less than 5 times its earnings, check out our report about the cheapest AI stock.

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